Gas Station and Convenience
For Sale
$1,200,000
1350 15th AVENUE, Union Grove, WI 53182
Operating fuel-and-convenience property paired with a separate multi-tenant commercial building and additional parking.
Property Size9,293 SF
Lot Size1.35 Acres
Price / SF$129.13
Days on Market278
Property Features for 1350 15th AVENUE
General Information
Standard status
Active
Size
9,293 SF
Lot size
1.35 Acres
Property subtype
General Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$16,331
Amenities
Central Air
3
C-2
36 Parking Spaces.
1 to 4.99
Building Details
Year Built
1990
Buildings
2
Stories
1
Listing Agency:
Pitts Brothers & Associates, LLC
(262) 496-8883
Listed By:
Andrew Pitts · License #8345394
(262) 496-8883
Source:
Xome
Added: Nov 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pitts Brothers & Associates, LLC
Investment Insights
Based on property information with market context.
This two-parcel commercial assemblage combines an operating, single-story, single-tenant gas station and convenience store with a separate single-story multi-tenant building. The gas station contains 3,668 square feet and is currently branded as an Amoco. Its fuel system includes three underground tanks: one with 10,000-gallon capacity and two with 8,000-gallon capacity.
The second building contains 5,625 square feet and is occupied by two tenants. Its layout can accommodate four units, although one tenant currently occupies three of them. Together, the buildings provide 9,293 square feet across a 1.352-acre site, or 58,893 square feet of land. The property includes 36 parking spaces, carries a C-2 designation, and was built in 1990.
The second building contains 5,625 square feet and is occupied by two tenants. Its layout can accommodate four units, although one tenant currently occupies three of them. Together, the buildings provide 9,293 square feet across a 1.352-acre site, or 58,893 square feet of land. The property includes 36 parking spaces, carries a C-2 designation, and was built in 1990.
Key Highlights
- Two‑parcel assemblage totaling 1.352 acres or 58,893 square feet
- Operating Amoco‑branded gas station and convenience store with 3,668 square feet
- Fuel system includes one 10,000‑gallon tank and two 8,000‑gallon tanks
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,552
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,891,040
$1.9M
Cap Rate 7%
$1,350,743
$1.4M
Cap Rate 9%
$1,050,578
$1.1M
Market Conditions
NOI Build-Up for 9,293 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$139.4K $15.00/SF
− Vacancy
−$4.3K −$0.47/SF
EGI
$135.1K $14.54/SF
− OpEx
−$40.5K −$4.36/SF
NOI
$94.6K $10.17/SF
Area
Racine County, WI
Vacancy
3.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,891,040
Cap Rate 7%
$1,350,743
Cap Rate 9%
$1,050,578
Alternative Uses
Best Use
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $129,002 @ 7.0% cap · market cap 10.75%
Second Best
Retail
$1.35M
$1.18M – $1.58M
NOI $94,552 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$2.23M
$1.96M – $2.61M
NOI $156,435 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 29%
Groceries 11%
Home Improvements & Furnishings 7%
McDonald's
Dining
14,143 visits/mo
0.3 miles
BP
Shops & Services
5,167 visits/mo
0.3 miles
Liquor Mart
Groceries
3,133 visits/mo
0.1 miles
Union Grove Lumber & True Value Hardware
Home Improvements & Furnishings
2,144 visits/mo
0.5 miles
Parkside Cafe
Dining
1,724 visits/mo
0.1 miles
Demographics for 53182, WI
9,422
Population
3,471
Households
2.7
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
55.3 sq mi
ZIP Area
170
Density / Sq Mi
$93,175
Median Household Income
$53,210
Median Earnings
$1,067
Median Rent
$305,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating fuel-and-convenience property paired with a separate multi-tenant commercial building and additional parking.
Where is this gas station located?
The property is located at 1350 15th AVENUE Union Grove, WI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑parcel assemblage totaling 1.352 acres or 58,893 square feet; Operating Amoco‑branded gas station and convenience store with 3,668 square feet; Fuel system includes one 10,000‑gallon tank and two 8,000‑gallon tanks
